Franco-Nevada Corporation (NYSE:FNV) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in Franco-Nevada Corporation by 5.8%, acquiring an additional 28,320 shares to reach a total of 512,671 shares valued at approximately $80.62 million.
• Franco-Nevada reported $368.4 million in revenue for the latest quarter, significantly exceeding analysts' expectations and achieving a 43.5% year-over-year increase.
• The company's quarterly dividend was announced at $0.38 per share, resulting in an annualized dividend yield of 1.0% and a payout ratio of 47.5%.

Alberta Investment Management Corp boosted its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 512,671 shares of the basic materials company's stock after purchasing an additional 28,320 shares during the period. Alberta Investment Management Corp owned about 0.27% of Franco-Nevada worth $80,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of FNV. Bessemer Group Inc. increased its stake in shares of Franco-Nevada by 1,583.3% in the 1st quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock worth $2,067,000 after purchasing an additional 12,350 shares in the last quarter. St. James Investment Company LLC increased its stake in shares of Franco-Nevada by 29.3% in the 1st quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock worth $34,661,000 after purchasing an additional 49,907 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Franco-Nevada by 36.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company's stock worth $9,200,000 after purchasing an additional 15,483 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Franco-Nevada in the 1st quarter worth $265,000. Finally, Fullcircle Wealth LLC increased its stake in shares of Franco-Nevada by 25.7% in the 1st quarter. Fullcircle Wealth LLC now owns 8,964 shares of the basic materials company's stock worth $1,531,000 after purchasing an additional 1,835 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Up 1.4%

Shares of FNV traded up $2.28 during trading hours on Friday, hitting $161.61. The company had a trading volume of 894,251 shares, compared to its average volume of 663,978. The company has a market capitalization of $31.13 billion, a PE ratio of 50.50, a price-to-earnings-growth ratio of 2.15 and a beta of 0.36. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $179.99. The company's fifty day moving average price is $164.51 and its two-hundred day moving average price is $155.89.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. Franco-Nevada's revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. Analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.9%. Franco-Nevada's payout ratio is currently 47.50%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FNV. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. HC Wainwright reaffirmed a "buy" rating and set a $195.00 price target (up previously from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $172.13.

Franco-Nevada Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.